Automotive Robotics Market to Surpass USD 15 billion by 2023
The automotive robotics market is segregated on the basis of functions performed, products as well as end users. Key functions performed by robots encapsulate welding, assembling, painting, dispensing as well as cutting among others. In addition, automated guided vehicles are also likely to surge the demand for these robots. Based on products the industry can be segmented into SCARA Robots, Articulated Robot and Cartesian Robots, among others.
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In addition, high investments in new and emerging markets and increasing investments in production activities are expected to positively impact the industry growth. Factors such as innovation in key vehicle manufacturing nations, diminution of the time required to market the product accompanied by lack of skilled labor is likely to boost the industry demand over the forecast period. Increasing absolute precision demands, escalating labor wages along with rising quality control needs among others are likely to positively impact the automotive robots market demand from 2016 to 2023.
Key applications include welding, painting and assembling. Cutting as well as dispensing jobs are also well performed by optimum application of these robots. Numerous material handling applications are likely to incorporate the optimal utilization of these robots and are anticipated to drive the demand over the several forth coming years.
The industry is anticipated to receive massive demand from numerous industries such as electrical & electronic, food & beverages as well as automotive sectors over the forecast period. Proliferating use of these robots are expected to replace the skilled labors in the industries.
North America is likely to exhibit high growth avenues with U.S automotive robotics market being the major region for implementation of these machines. Europe is automotive robotics market is anticipated to experience substantial hike from 2016 to 2023. The surge can be attributed to presence of high number of automotive industries across the region with Germany being the key region for the industrial surge. Intensifying hike in procuring capacities is also expected to positively spike the demand for superior quality consumer goods.
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Major industry partners occupying substantial automotive robotics market share encapsulate Comau SpA, ABB Group, Denso Wave, Fanuc Corporation, Dürr, Harmonic Drive System, Kawasaki Heavy Industries (Kawasaki Robotics), KUKA, Nabtesco Motion Control, Omron Corporation (Adept Technology), Nachi-Fujikoshi Corp, Panasonic Welding Systems, Kg Maschinenfabrik, Rockwell Automation, Reis Gmbh & Co, Siasun Robot & Automation, Stäubli, Yamaha Robotics, Universal Robots and Yasakwa Electric Corporation among others.
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